MaxLinear, Inc. (NASDAQ:MXL) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of MaxLinear, Inc. (NASDAQ:MXL) have earned an average rating of “Moderate Buy” from the seven ratings firms that are currently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $23.14.

A number of equities analysts recently weighed in on MXL shares. Susquehanna cut shares of MaxLinear from a “positive” rating to a “neutral” rating and lowered their price objective for the stock from $26.00 to $15.00 in a research report on Tuesday, October 1st. Wells Fargo & Company initiated coverage on MaxLinear in a research report on Friday, November 22nd. They set an “equal weight” rating and a $14.00 price target for the company. Needham & Company LLC reiterated a “hold” rating on shares of MaxLinear in a report on Thursday, October 24th. Craig Hallum lowered their target price on MaxLinear from $28.00 to $25.00 and set a “buy” rating for the company in a report on Thursday, October 24th. Finally, Benchmark boosted their price target on shares of MaxLinear from $22.00 to $28.00 and gave the stock a “buy” rating in a research note on Monday, December 9th.

Insider Buying and Selling at MaxLinear

In other news, insider Steven G. Litchfield sold 32,000 shares of the company’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $20.35, for a total transaction of $651,200.00. Following the completion of the transaction, the insider now directly owns 365,868 shares of the company’s stock, valued at approximately $7,445,413.80. This represents a 8.04 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP William Torgerson sold 6,100 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $15.40, for a total value of $93,940.00. Following the sale, the vice president now directly owns 179,262 shares in the company, valued at $2,760,634.80. This trade represents a 3.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 48,900 shares of company stock valued at $927,278 in the last quarter. Corporate insiders own 8.60% of the company’s stock.

Hedge Funds Weigh In On MaxLinear

Several hedge funds have recently added to or reduced their stakes in the stock. Point72 Asia Singapore Pte. Ltd. boosted its stake in MaxLinear by 5,114.3% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 126,863 shares of the semiconductor company’s stock valued at $1,837,000 after acquiring an additional 124,430 shares in the last quarter. Quantbot Technologies LP boosted its position in shares of MaxLinear by 111.7% in the 3rd quarter. Quantbot Technologies LP now owns 66,363 shares of the semiconductor company’s stock valued at $961,000 after purchasing an additional 35,018 shares during the period. Two Sigma Advisers LP grew its stake in MaxLinear by 21.8% during the 3rd quarter. Two Sigma Advisers LP now owns 694,149 shares of the semiconductor company’s stock worth $10,051,000 after buying an additional 124,300 shares during the last quarter. Vaughan Nelson Investment Management L.P. acquired a new position in MaxLinear during the third quarter worth approximately $16,696,000. Finally, Mirabella Financial Services LLP acquired a new position in MaxLinear during the third quarter worth approximately $551,000. 90.79% of the stock is currently owned by hedge funds and other institutional investors.

MaxLinear Stock Performance

Shares of MaxLinear stock opened at $19.57 on Friday. The firm has a market cap of $1.65 billion, a PE ratio of -7.19 and a beta of 1.87. The company has a quick ratio of 1.38, a current ratio of 1.95 and a debt-to-equity ratio of 0.22. MaxLinear has a 52 week low of $11.08 and a 52 week high of $26.59. The business’s fifty day simple moving average is $17.01 and its 200-day simple moving average is $16.32.

MaxLinear (NASDAQ:MXL) last posted its earnings results on Wednesday, October 23rd. The semiconductor company reported ($0.36) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.04). MaxLinear had a negative net margin of 57.37% and a negative return on equity of 19.22%. The company had revenue of $81.10 million during the quarter, compared to analyst estimates of $80.40 million. During the same period in the previous year, the company earned ($0.02) EPS. The company’s quarterly revenue was down 40.2% compared to the same quarter last year. Equities analysts forecast that MaxLinear will post -1.66 earnings per share for the current year.

MaxLinear Company Profile

MaxLinear, Inc provides communications systems-on-chip solutions worldwide. Its products integrate various portions of a high-speed communication system, including radio frequency, high-performance analog, mixed-signal, digital signal processing, security engines, data compression and networking layers, and power management.